Continuous efforts by automotive AC compressor manufacturers towards the improvement of fuel efficiency for the reduction of air pollution and prevention of global warming will drive automotive AC compressor market growth through coming years.

In the era of commercial vehicle industry, driver and passenger comfort is cited as one of the prominent parameters and leads to the profitability of fleet owners when centered on the improvement of vehicle running time. Air-conditioned truck cabins are increasingly being preferred for the creation of a comfortable environment for the driver, in turn reducing fatigue and enhancing efficiency to a remarkable extent.

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Global automotive AC compressor market is set to exceed USD 10 billion by 2026, cited a recent report by Global Market Insights, Inc.

The persistently surging demand for thermal comfort and energy efficient systems in automobiles has been instrumental in requiring automotive AC compressor kits to provide the required cooling performance with minimum power consumption. Reduction of AC power consumption in vehicles is, therefore, one of the prominent challenges before climate control engineers. A technology called variable AC compressor has been rolled out for the reduction of parasitic losses in an engine generating higher energy efficiency.

What factors will contribute to the augmentation of North America automotive AC compressor market size through 2026?

Rising automotive production coupled with surging number of electric vehicle production sales has been instrumental in creating a high demand for various automotive AC compressor types and automotive AC compressor parts in North America. As per studies, the region accounted for around 15 per cent of the overall revenue share in 2019.

Escalating adoption of air conditioning systems in the HCV segment is further slated to cause a remarkable growth in the North America automotive AC compressor market size. Numerous remanufacturing and repairing efforts by key industry manufacturers towards making old automotive AC compressor for cars operate via environment-friendly refrigerants for the replacement of chlorofluorocarbons (CFCs) will also drive market outlook.

How will contributions from major industry participants propel automotive AC compressor industry growth through 2026?

Increasing inclination towards design improvement by key industry manufacturers towards the creation of compact and lightweight AC compressor functions will drive automotive AC compressor market expansion through coming years.

Various players are also focusing on the development of numerous automotive AC compressor types offering variable output displacement suited to external variables including surrounding temperature, driving speed, and sunlight.

Standard Motor Products Inc., in 2019, secured a 29 per cent stake of Jiangsu Che Yijia New Energy Technology Corporation, involved in the production of automotive AC compressor kits for EVs in China. This strategy is poised to prove useful for the acquisition of technology associated with electric compressors, further bolstering industry demand in near future.

Which reasons will add to the escalation of belt driven segment in automotive AC compressor market through 2026?

Higher global engine vehicle production is likely to  spur belt driven segment growth over the anticipated timeframe. The belt driven segment in automotive AC compressor market is set to grow at a CAGR of more than 3.5 per cent.

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Rising cost-effectiveness coupled with non-requirement of extra power source have been instrumental in creating a high demand for belt driven segment growth through coming years.

In essence, surging penetration of air condition systems and AC compressor for cars in emerging countries will augment automotive AC compressors market size in the ensuing years. Key automotive AC compressor manufacturers comprise Denso Corporation, Hanon Systems, Standard Motor Product Inc., Marelli Corporation, Toyota Industries, and others.

Partial Chapter of the Table of Content

Chapter 1   Methodology and Scope

1.1    Market definitions

1.2    Base estimation & working

1.2.1    North America

1.2.2    Europe

1.2.3    Asia Pacific (APAC)

1.2.4    Latin America (LATAM)

1.2.5    Middle East & Africa (MEA)

1.3    Forecast calculations

1.3.1    COVID-19 impact calculations on industry forecast

1.4    Data Sources

1.4.1    Primary

1.4.2    Secondary

Chapter 2   Executive Summary

2.1    Global automotive AC compressor industry 360° synopsis, 2018 - 2028

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Vehicle type trends

2.1.4    Type trends

2.1.5    Drive trends

2.1.6    Sales Channel trends

Chapter 3   Global Automotive AC Compressor Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2018 – 2028

3.3    Industry ecosystem analysis

3.3.1    Raw material supply

3.3.2    Value addition at each stage

3.3.3    Vendor matrix

3.3.3.1    List of key raw material suppliers

3.3.3.2    List of key automotive AC compressors manufactures

3.3.3.3    List of key/potential customers

3.4    Pricing analysis (including COVID-19 impact)

3.4.1    Regional price trends

3.4.2    Cost structure analysis

3.5    Innovation & sustainability

3.5.1    Technology landscape

3.5.2    Future trends

3.6    Regulatory landscape

3.6.1    U.S.

3.6.2    Europe

3.6.3    Asia Pacific

3.7    Industry impact forces

3.7.1    Growth drivers

3.7.1.1    Increasing focus on light-weighting and fuel efficiency products

3.7.1.2    Growth in passenger vehicle sales

3.7.1.3    Increasing automotive production and presence of auto players

3.7.1.4    The increasing adoption of EVs is likely to surge industry proliferation

3.7.2    Industry pitfalls & challenges

3.7.2.1    A higher operation life and easy repair are likely to decrease the growth rate

3.7.2.2    Prohibitive cost of air-conditioning systems

3.8    Automotive industry overview

3.8.1    Automotive production by region 2018-2021

3.8.2    Automotive sales by region 2018-2021

3.8.3    Automotive vehicle in-use by region, 2021

3.9    Growth potential analysis, 2021

3.10    Porter’s analysis

3.11    PESTLE analysis

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